i'm ted simons. you have a great evening. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] . . . we concluded, simply that heightened expectation of instability and supply disruptions triggered by the consequences of a nuclear iran would cause the price of oil to go much higher and to remain high for a sustained duration of time. significantly impacting the united states economy. the price and economic impact would be much greater if these occurred. we hope that this paper which is a departure from the focus of most papers on the consequences of a nuclear iran or a nuclear capable iran will trigger a new discussion and enable an expanded debate on the topic. i would like to introduce michael, the foreign policy director of the bpc, a former oil analyst to boot. he directed this effort and will review some of the key findings. he will introduce our very distinguished panel. mike. >> thank you, senator. thank you everyone for coming. as the senator said, the purpos